Dundee Acquisition Ltd. Announces Filing of Non-Offering Prospectus

TORONTO, ONTARIO--(Marketwired - Oct. 26, 2016) -Dundee Acquisition Ltd. (TSX:DAQ.A)(TSX:DAQ.WT) (the "Corporation") announces that, in accordance with applicable rules, it has filed a non-offering preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with the completion of its qualifying acquisition.

On August 25, 2016, the Corporation announced that it had entered into a definitive arrangement agreement with CHC Student Housing Corp., the only pure-play publicly listed student housing company in Canada, to effect a business combination by way of a court approved plan of arrangement (the "Arrangement") and that DAQ had concurrently entered into a series of agreements to acquire additional student housing properties from various third party vendors. The pro forma company will manage and own an interest in up to 18 properties with over 4,400 student housing beds with an average proximity to universities and colleges of approximately 0.7 km in 12 cities across Canada. The resulting issuer is expected to be renamed Canadian Student Living Group Inc. ("CSL") and will continue to be led by CHC's Chief Executive Officer, Mark Hansen and the current CHC management team.

Pursuant to applicable rules, the prospectus contains disclosure of CSL as the resulting issuer, assuming completion of the Arrangement.

Following the issuance of a receipt for the final prospectus, the Corporation will file and mail an information circular, to which the final prospectus will be attached, in connection with the special meeting of shareholders of the Corporation (the "Meeting") at which approval of the Arrangement will be sought. The Arrangement remains subject to, among other things, approval of the Ontario Superior Court of Justice, applicable regulatory authorities, including the Toronto Stock Exchange, the shareholders of the Corporation, CHC shareholders (if required by the TSX Venture Exchange), and certain other closing conditions.

Holders of Class A Restricted Voting Shares, whether they vote for or against or do not vote on the qualifying acquisition, will have a right to redeem all or a portion of their Class A Restricted Voting Shares, provided that they deposit their shares for redemption prior to the second business day before the Meeting with the redemption being effective, subject to applicable law, immediately prior to the closing of the Arrangement.

Subject to receipt of the required approvals, the Corporation intends to mail the information circular to its shareholders by the third week of November, 2016, and it is anticipated that the Meeting will take place in the second week of December, 2016. Closing of the Arrangement is expected to occur by the third week of December, 2016, subject to satisfaction or waiver of the conditions contained in the Arrangement Agreement as well as applicable regulatory, shareholder and court approval.

Dundee Acquisition Ltd. is a special purpose acquisition corporation formed for the purpose of effecting an acquisition of one or more businesses or assets, by way of a merger, share exchange, asset acquisition, share purchase, reorganization, or any other similar business combination.